RE: As the Price of STEEM/SBD Goes Up, So Does the Crab Bucket Mentality

[tibonova]

The crab bucket mentality was one reason in the Steem White Paper for why is hard to abuse the reward system.

Comments

[bitcoinparadise]

I wouldn't say that that's one reason why it's hard to abuse the system. It's actually kind of encouraged.

Eliminating “abuse” is not possible and shouldn’t be the goal. Even those who are attempting to “abuse” the system are still doing work. Any compensation they get for their successful attempts at abuse or collusion is at least as valuable for the purpose of distributing the currency as the make-work system employed by traditional Bitcoin mining or the collusive mining done via mining pools. All that is necessary is to ensure that abuse isn’t so rampant that it undermines the incentive to do real work in support of the community and its currency.

The goal of building a community currency is to get more “crabs in the bucket”. Going to extreme measures to eliminate all abuse is like attempting to put a lid on the bucket to prevent a few crabs from escaping and comes at the expense of making it harder to add new crabs to the bucket. It is sufficient to make the walls slippery and give the other crabs sufficient power to prevent others from escaping.

-Steem Whitepaper

[tibonova]

Even those who are attempting to “abuse” the system are still doing work.

Adding to that, selfvote is not much different from average proof of stake reward distribution. That's another reason why I'm not against it.

[tibonova]

Oh, I've almost forgotten to like my comment. :D
If I don't think it adds something, and not just random strings to Steem, why I would post it? And if I think its worth posting as a comment, why would I miss pushing the like button?

So yes, I agree in that anyone could use their SP as they see fit.
Someone could spam, I could dislike it. Both of us are free.